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Gold Silver and Oil Bounced Back on Thursday – Recap January 10th

January 11, 2013

Major commodities changed direction again and rallied on the fourth business day of the week: the price of Brent oil and WTI oil rose; the prices of gold and silver also spiked on Thursday; natural gas Henry Hub future (short term delivery) also changed direction and rose yesterday; the Euro sharply increased against the USD on Thursday. Moreover, several other currency pairs such as the Aussie dollar also sharply appreciated against the USD.

Here is a summary of the daily developments of precious metals and energy commodities for January 10th, 2013:

Forex and Bullion Markets:

On Thursday, gold rose by 1.36% and reached $1,678; silver also sharply increased by 2.22% to $30.89. During the month, gold rose by 0.19%; silver, by 2.39%.

On Thursday,the Euro/USD rose by 1.58% to 1.3271; the U.S Dollar depreciated against some other currencies such as Aussiedollar by 0.83%.

Energy Commodities:

WTI oil price rose by 0.76% to $93.82 per barrel; Brent oil also increased by 0.11% to $111.89 per barrel;

Thus, the gap between Brent and WTI narrowed to $18.07/bbl. During the month, WTI increased by 2.2%; Brent oil, by 0.7%.

Finally, the Henry Hub future (short term delivery) also rallied by 2.57% to $3.19/mmbtu.